HOUSTON, Jan. 25, 2021 /PRNewswire/ -- U.S. Well Services,
Inc. (Nasdaq: USWS) today announced it has received written notice
from the Listing Qualifications Staff of the Nasdaq Stock Market
LLC ("Nasdaq") notifying the Company that it has regained
compliance with Nasdaq Listing Rule 5550(b)(2) (the "MVLS
Requirement").
The Company was previously notified by Nasdaq on August 14, 2020 that it was not in compliance
with the MVLS Requirement, and that it had until February 10, 2021 to regain compliance.
As previously disclosed, the Company was also notified by Nasdaq
on December 29, 2020 that it had not
regained compliance with the $1.00
minimum bid price requirement for continued listing on Nasdaq set
forth in Nasdaq Listing Rule 5550(a)(2) (the "Minimum Bid Price
Requirement") by its December 28,
2020 deadline. The Company plans to present its plan
to regain compliance with the Minimum Bid Price Requirement at its
upcoming hearing before a Nasdaq Hearings Panel.
About U.S. Well Services, Inc.
U.S. Well Services, Inc. is a leading provider of hydraulic
fracturing services and a market leader in electric fracture
stimulation. The Company's patented electric frac technology
provides one of the first fully electric, mobile well stimulation
systems powered by locally-supplied natural gas, including field
gas sourced directly from the wellhead. The Company's electric frac
technology dramatically decreases emissions and sound pollution
while generating exceptional operational efficiencies, including
significant customer fuel cost savings versus conventional diesel
fleets. For more information visit: www.uswellservices.com.
Information on our website is not part of this release.
Contacts:
U.S. Well Services
Josh Shapiro
Vice President, Finance and Investor Relations
IR@uswellservices.com
Dennard Lascar Investor
Relations
(713) 529-6600
USWS@dennardlascar.com
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SOURCE U.S. Well Services, Inc.